The Solana spot ETFs are experiencing a net outflow which has been the first since its inception, as compared to the where it has had a period of uninterrupted inflows. New data posted by Satoshi Club reported a combined outflow of $8 million in Solana ETF products by Bitwise, VanEck, Fidelity, 21Shares and Grayscale.
The rise follows weeks of demand that made Solana one of the best performers in the new generation of crypto spot ETFs.
Daily Breakdown Shows Red Numbers Led by 21shares TSOL
The consolidated sheet shows that TSOL was the main cause of the outflow, with the 21shares ETF recording a large (34.4) outflow on 26 November 2025.
This drastic decrease was really a burden to the cumulative figures of the day by far, even when other issuers registered stable or slightly positive flows. The performance was the only highly negative entry of major issuers of the day with TSOL having a performance that was deeply negative.
Other products were relatively low with GSOL of Grayscale registering (10.4) and small positive flows recorded across other small issuers like Bitwise. All in all, the total net changes of the Solana ETFs led to the first net negative closing since the opening of the funds.
Historical Data Highlights Strong Performance Before Today’s Decline
Solana ETFs had experienced good and consistent demand before the recent outflow. The BSOL of Bitwise alone took in 527.9 in total inflows, which has justified it as the market leader in the solana ETF market. Fidelity FSOL had a figure of 29.8 and VanEck VSOL had 7.9 in total flows. Grayscale had 73.6 but only 21share was in negative today which turned overall volume negative.
This trend of steady inflows highlighted an increase in institutional interest in Solana exposure, contrasting with the changing weekly cycles of such altcoin ETFs.
Recent Daily Movements Hint at Growing Volatility
A more detailed investigation of the data between 20 November and 26 November reveals that there is some growing inconsistency in flows. As of 20 November, the total was 23.6, with a strong entry in BSOL and mild entry by other issuers. By 24 and 25 November, however, despite continued inflows of 58.0 and 56.8 respectively, the momentum was volatile.
Then arrived 26 November, when the sharp (34.4) decline of TSOL drove the market into a negative space of 8.2, the first time in a long time, and indicated the deepening of more cautious behavior.
Implications for Solana and ETF Market Dynamics
The initial outflow does not imply long-term weakness, however, it does imply the possibility of cooling off of the hyperactive inflow that defined the introduction of Solana ETF. Investors might be reviewing short-run market conditions, profit-taking plans or responding to more macro uncertainty.
Solana ETFs have high cumulative inflows among large issuers despite the red close that currently exists. The long-term outlook is optimistic and the total inflow points of the products are more than 600+ even after deducting the current withdrawals.
What Comes Next for Solana ETFs?
Market analysts will be closely monitoring to know whether this outflow will be the start of a more turbulent phase or the momentary retreat of the inflows. As Solana operates actively in the market and institutional interest in it grows, the future sessions will tell whether the current decline will be a one-week event or the beginning of a larger trend.
